A recently announced long-term power purchase agreement (PPA) is expected to save Maryland approximately $300 million over the next 20 years while doubling the amount of renewable energy currently purchased directly by the State through long-term PPAs.
The proposed 20-year PPA with REV Renewables, a solar and storage project developer, will provide approximately 250 GWh of renewable electricity annually beginning in 2028 from the Jade Meadow III Solar Project, located on a closed coal mine in Western Maryland.
Under the agreement, the Maryland Department of General Services (DGS) will purchase approximately half of the electricity generated by the 300 MW solar project for state energy accounts. The state estimates that this is enough to power more than 20,000 homes per year and will provide enough renewable electricity to power nearly 15% of the state’s portfolio beginning in 2028.
The Jade Meadow III project, considered to be the largest proposed in the state to date, is currently under construction and expected to reach commercial operations in the second half of 2027, according to REV Renewables. The company reports it has a planned investment of over $500 million and that over 1200 people are expected to be employed during the height of construction.
The project site includes 32 parcels of nearly 6,000 acres with approximately 1,850 used for construction, according to the state’s case summary. Mining the land is documented by the state to have started in the 1940s, though deep mines were prevalent in that area, dating back to the 1800s with little official documentation.
Financial analysis conducted by DGS shows that the state will save a substantial amount compared to its traditional electricity purchasing strategies. The agreement is expected to save between $298 million and $515 million over the 20-year contract term, depending on future electricity market conditions.
“This agreement represents a historic win for Maryland, reflecting our commitment to responsible stewardship of taxpayer dollars while delivering on Maryland’s ambitious clean energy goals,” said DGS Secretary Atif Chaudhry. “…This project significantly expands our renewable energy portfolio, and serves as a cornerstone in our transition toward a cleaner, more sustainable future.”
Maryland’s Climate Solutions Now Act of 2022 sets a goal of reducing greenhouse gas emissions 60% by 2031 and establishes 2045 as the state’s goal for becoming carbon neutral. The goal for greenhouse gas emission reduction, which was increased from 40% of 2006 levels, became part of Maryland’s Climate Pollution Reduction Plan, passed by Governor Moore in 2025.
The agreement builds upon Maryland’s longstanding investments in renewable energy. Through DGS and the University System of Maryland’s Generating Clean Horizons initiative, the state currently purchases renewable electricity through long-term agreements with solar and wind facilities, including Mount St. Mary’s Solar and the Roth Rock and Pinnacle wind projects.
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